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USD/JPY extends pullback after 99.12 resistance holds

By Jamie Coleman  || October 31, 2008 at 12:48 GMT
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USD/JPY has come under renewed pressure as USD/JPY dips below the 98.00 handle after testing and holding resistance at 99.12. EUR/JPY selling at the month-end fix contributed to the heavy tone. Focus will next turn to the equity markets were asset allocation out of bonds and into stocks is expected into month-end.

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